An Empirical Study On The Relationship Between Financial Education Expenditure And Economic Growth In Heilongjiang Province

Education is the lifeblood of national development.Reasonable financial expenditure on education can provide sustainable development power for economic growth.However,unreasonable scale and structure of financial expenditure on education will play a role in various ways and hinder economic growth.In the process of economic development,Heilongjiang province gives financial support to education to some extent,and financial education expenditure also plays a positive role in promoting economic growth in the long run.However,the unreasonable expenditure scale and structure of financial education funds have become the bottleneck of sustainable economic growth in Heilongjiang Province.Therefore,it is of positive significance to study the relationship between financial education expenditure and economic growth in Heilongjiang Province.First of all,this paper makes a descriptive analysis of the relationship between financial and educational expenditure and economic growth in Heilongjiang Province,and finds that the scale,hierarchical structure and regional structure of financial and educational expenditure in Heilongjiang Province do not coordinate with economic growth.Financial and educational expenditure in Heilongjiang Province fails to actively promote economic growth,and economic growth in Heilongjiang province continues to affect financial growth The support of government expenditure for education.In addition,the paper tests the relationship between financial education expenditure and economic growth in Heilongjiang Province by empirical analysis.In this paper,the ADF unit root test and cointegration test are carried out on the relevant data under the new production function framework of financial education expenditure factors.The long-term equilibrium equation and error correction model of financial education expenditure and economic growth are obtained,and the two-way influence relationship between them is tested by Granger causality test.The results of empirical analysis show that in the long run,the financial education expenditure of Heilongjiang Province has a positive role in promoting economic growth,and in the short run,when the equilibrium relationship between the financial education expenditure and economic growth of Heilongjiang Province is destroyed,the residual term that lags one period will correct the long-term equilibrium relationship between variables and restore the relationship to a long-term equilibrium state.Granger causality test shows that economic growth in Heilongjiang province continues to affect the expenditure of financial education funds,indicating that Heilongjiang province attaches great importance to education and development philosophy.Finally,through descriptive analysis and empirical analysis,we find the characteristics and problems of the relationship between financial education expenditure and economic growth in Heilongjiang Province.In order to promote the coordinated development of financial education expenditure and economic growth in Heilongjiang Province,this paper puts forward some constructive suggestions on the scale,structure and management system of financial education expenditure.They are to reasonably expand the scale of financial education expenditure,optimize the structure of financial education expenditure,and improve the management system of financial education expenditure.